Thursday 5 November 2026 Export ELS’s income statement to Excel — free account

Equity Lifestyle Properties, Inc.

Equity Lifestyle Properties, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.5 billion, roughly unchanged from fiscal 2024.

Revenue: +4.22%
EPS: −10.0%
Free cash flow: +33.5%
Total debt: +19.5%

Quarter to September 2026, against a year earlier

62.55 2.25 +3.73%

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Market cap: $12.6B
P/E: 29.7×
Fwd P/E: 28.8×
Dividend yield: 3.56%
F-score: 6/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Equity Lifestyle Properties, Inc. (ELS) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
Property Operations	1,456	95.08%
Home Sales and Rentals Operations	57	3.72%
Other, not broken out	18	1.20%
Gross margin		53.00%
Operating margin		34.13%
Pre-tax margin		25.56%

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
Property Operations	1,456 95.08%	1,422 93.20%	1,362 91.43%	1,291 89.25%	1,188 90.21%	1,044 93.32%	970 93.47%	917 92.90%	860 92.90%	804 92.34%	759 92.35%	717 92.29%	680 93.27%	648 94.74%	551 95.41%	495 95.72%	483 95.95%
Home Sales and Rentals Operations	57 3.72%	86 5.65%	110 7.38%	140 9.65%	117 8.91%	64 5.68%	51 4.91%	52 5.24%	52 5.66%	52 6.03%	48 5.89%	44 5.72%	33 4.56%	21 3.08%	14 2.44%	12 2.32%	12 2.32%
Other, not broken out	18 1.20%	18 1.15%	18 1.19%	16 1.10%	12 0.88%	11 1.00%	17 1.61%	18 1.86%	13 1.45%	14 1.63%	14 1.75%	15 1.98%	16 2.16%	15 2.18%	12 2.14%	10 1.96%	9 1.73%
Revenue	1,531	1,526	1,489	1,447	1,316	1,119	1,037	987	925	870	822	777	729	684	577	517	503

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
Property Operations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Home Sales and Rentals Operations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Annual RV sites	Q3 FY2026	34.8K	34.4K	+1.16%
Brokered home resales volume	Q3 FY2026	131.00	113.00	+15.93%
Core monthly base rent per site	Q3 FY2026	$963.00	—	—
Core occupancy %	Q3 FY2026	93.8%	94.3%	—
Core occupied sites	Q3 FY2025	68.7K	69.0K	−0.45%
Core total sites	Q3 FY2025	72.8K	72.6K	+0.29%
FFO a share	Q3 FY2026	$0.72	$0.77	−6.49%
MH sites	Q3 FY2026	75.9K	73.2K	+3.69%
Monthly base rent per site	Q1 FY2026	$948.00	$895.00	+5.92%
New and used homes sold	Q3 FY2026	244.00	—	—
Occupancy %	Q1 FY2026	93.4%	94.0%	—
Occupied rentals: New	Q3 FY2026	2.1K	—	—
Occupied rentals: Used	Q3 FY2026	189.00	—	—
Occupied sites	Q3 FY2025	68.7K	69.0K	−0.44%
Occupied sites	Q3 FY2026	68.8K	68.7K	+0.14%
Properties	Q3 FY2026	453.00	455.00	−0.44%
Seasonal RV sites	Q3 FY2026	9.8K	11.2K	−12.50%
Total new home sales volume	Q3 FY2026	97.00	119.00	−18.49%
Total occupied rental sites	Q3 FY2026	2.3K	2.1K	+8.75%
Total sites	Q3 FY2025	73.2K	73.0K	+0.30%
Total sites	Q3 FY2026	173.6K	173.3K	+0.16%
Total sites, ending	Q3 FY2026	73.3K	—	—
Total used home sales volume	Q3 FY2026	148.00	129.00	+14.73%
Transient RV sites	Q3 FY2026	20.4K	—	—
Utility recovery rate	Q3 FY2026	48.5%	48.0%	—

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023
Annual RV sites	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Brokered home resales volume	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Core monthly base rent per site	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Core occupancy %	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Core occupied sites	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Core total sites	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
FFO a share	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
MH sites	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Monthly base rent per site	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
New and used homes sold	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Occupancy %	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Occupied rentals: New	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Occupied rentals: Used	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Occupied sites	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Occupied sites	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Properties	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Seasonal RV sites	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total new home sales volume	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total occupied rental sites	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total sites	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total sites	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total sites, ending	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total used home sales volume	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Transient RV sites	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Utility recovery rate	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.